Plant-based food technology company continues to rapidly expand across retail, eCommerce and food service to help consumers rethink food
Vancouver, British Columbia--(Newsfile Corp. - June 15, 2021) - The Very Good Food Company Inc. (TSXV: VERY) (OTCQB: VRYYF) (FSE: 0SI) ("VERY GOOD" or the "Company"), a leading plant-based food technology company, today announced a wholesale distribution agreement with KeHE Distributors, LLC ("KeHE") a top pure play U.S. wholesale food distributor of natural, organic, speciality and fresh food brands across North America.
KeHe, an Illinois based and employee-owned wholesale distributor, represents 8,500 food brands distributed to more than 40,000 natural food stores, chain and independent grocery stores, ecommerce retailers and other specialty product retailers throughout North America. In recent years, KeHE has scaled its operations by expanding to 16 national distribution centres to enhance its supply chain services, solidifying its reputation as a valued distribution partner to major grocers including Sprouts Farmers Market, Whole Foods, Thrive Market and Associated Food Stores.
"The partnership with KeHE will help further expand VERY GOOD's retail presence across the U.S. as consumers increasingly rethink their food choices and integrate plant-based food options into their diet", said co-founder and CEO Mitchell Scott. "We deeply value KeHE's proven expertise in getting food brands products on shelves of major grocers faster."
KeHE joins VERY GOOD's North American network of wholesale, eCommerce and food service partners, helping to power the Company's growth and move its plant-based offerings from its production facilities to customers' plates. VERY GOOD currently offers 19+ plant-based products under its brands, The Very Good Butchers and The Very Good Cheese Co., through more than 1,356 retail distribution points.
VERY GOOD previously established a U.S. distribution partnership with another major North American wholesale distributor, and recently announced its entry into food service through partnerships with FreshPrep, a sustainable meal kit company, and Copper Branch, the world's largest 100% plant-based quick service restaurant chain.
About KeHE Distributors
KeHE Distributors, LLC is the largest, pure play distributor of natural & organic, specialty, and fresh products to more than 40,000 natural food stores, chain and independent grocery stores, ecommerce retailers and other specialty product retailers throughout North America. KeHE is an employee-owned, B Corporation, with over 5,000 employees. For more about KeHE, visit www.KeHE.com.
About The Very Good Food Company Inc.
The Very Good Food Company Inc. is an emerging plant-based food technology company that produces nutritious and delicious plant-based meat and cheese products under VERY GOOD's core brands: The Very Good Butchers and The Very Good Cheese Co. www.verygoodfood.com
OUR MISSION IS LOFTY, BADASS BUT BEAUTIFULLY SIMPLE: GET MILLIONS TO RETHINK THEIR FOOD CHOICES WHILE HELPING THEM DO THE WORLD A WORLD OF GOOD. BY OFFERING PLANT-BASED FOOD OPTIONS SO DELICIOUS AND NUTRITIOUS, WE'RE HELPING THIS KIND OF DIET BECOME THE NORM.
Forward-Looking Information
This news release contains forward-looking information for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as "proposed", "expects", "intends", "may", "will", and similar expressions. Forward looking information contained or referred to in this news release includes statements relating to the expected benefits and opportunities to VERY GOOD from the distribution agreement with KeHE and the Company's proposed expansion in the U.S. retail market. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information, but which may prove to be incorrect including, but not limited to, material assumptions with respect to the continued strong demand for VERY GOOD's products, the continued production capacity ramp-up, the availability of sufficient financing on reasonable terms to fund the Company's capital requirements and the ability to obtain necessary equipment, production inputs and labour. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, undue reliance should not be placed on forward-looking information because VERY GOOD can give no assurance that such expectations will prove to be correct. Risks and uncertainties that could cause actual results, performance or achievements of VERY GOOD to differ materially from those expressed or implied in such forward-looking information include, among others, negative cash flow and future financing requirements to sustain and grow operations, limited history of operations and revenues and no history of earnings or dividends, expansion of facilities, competition, availability of raw materials, dependence on senior management and key personnel, general business risk and liability, regulation of the food industry, change in laws, regulations and guidelines, compliance with laws, unfavourable publicity or consumer perception, product liability and product recalls, risks related to intellectual property, difficulties with forecasts, management of growth and litigation, as well as the impact of, uncertainties and risks associated with the ongoing COVID-19 pandemic, many of which are beyond the control of VERY GOOD. For a more comprehensive discussion of the risks faced by VERY GOOD, please refer to VERYGOOD's Management's Discussion & Analysis for the fiscal years ended December 31, 2020 and 2019 filed with Canadian securities regulatory authorities at www.sedar.com. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, VERY GOOD disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.
The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Investor Contact
The Very Good Food Company
Mitchell Scott
Kevan Matheson
Corporate Communications and Investor Relations
Email: invest@verygoodbutchers.com
Phone: +1 855-472-9841
Media Contact
Anne Donohoe
KCSA Strategic Communications
Email: VERY@kcsa.com
Phone: 212-896-1265
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